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Iraq is collaborating with the United States to restrict local banks and financial firms from conducting US dollar transactions, aiming to limit Iran’s access to global banking. The Central Bank of Iraq plans to ban five banks and three financial companies from dollar-based services. This decision aligns with US President Trump’s “maximum pressure” policy on Iran, impacting Tehran’s significant revenue from exports to Iraq. Previous restrictions included eight banks, and challenges persist for Iraq in processing dollar transactions due to sanctions. The situation highlights the complex balance Iraq must maintain between its economic ties with Iran and US pressures.
Iran’s trade report from March 21 to November 22, 2025, reveals significant trends, with a total of 131.54 million tons traded, valued at $76.537 billion—a 9.38% decline in value but a 1.53% increase in weight compared to last year. Exports totaled 105.231 million tons worth $36.997 billion, showing a 1.17% rise in weight but a 3.48% drop in value. Imports reached 25.823 million tons valued at $39.540 billion, reflecting a 3% weight increase but a 14.29% value decline. Key factors influencing these dynamics include global economic conditions, domestic policies, currency fluctuations, and supply chain challenges.
Chabahar’s port operations have significantly expanded, reflecting increased trade and investment in maritime infrastructure, with IRR 105 trillion allocated to twelve major projects this past year. Key initiatives include enhancements at Shahid Beheshti Port, resulting in a 2.1% rise in cargo throughput to 4.15 million tons, and a remarkable 33.8% increase in container operations. Transit and transshipment volumes surged by 19.7% and 188.5%, respectively. Vessel traffic grew by 6%, with improved safety measures leading to successful rescue operations. Chabahar’s ports now rank highest in safety compliance among Iranian ports, signaling a promising future for regional trade.
West Azarbaijan province has experienced significant growth in non-oil exports, with a remarkable 63% increase in volume and value from March 21, 2024, to January 20, 2025. A total of 2.7 million tons of goods valued at approximately $1.6 million were exported, while customs revenue surged by 88%. Customs Office Observer Khaled Jangjoo attributed this growth to improved trade policies, infrastructure, and international partnerships, fostering a favorable business environment. This transformation is not only beneficial for local businesses and job creation but also positions West Azarbaijan as a key player in the non-oil sector, promising sustained economic development.
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Recent talks between Iran and Russia, led by Iranian ambassador Kazem Jalali and AEOI head Mohammad Eslami, indicate a strengthening of bilateral relations, particularly in nuclear energy collaboration. High-level discussions with Russian Energy Minister Sergei Tsivilev focused on enhancing joint projects and strategic partnerships. Both nations aim to harness nuclear technology for peaceful purposes, fostering economic growth and energy security. The meetings also addressed economic and political challenges, emphasizing the need for robust alliances. This cooperation could significantly impact their global standing and reflects a commitment to mutual interests in a rapidly evolving geopolitical landscape.